Cuts in production from OPEC+ producers have been the main reason for the dramatic recovery since the 38% price slump seen during the final quarter of last year, say market makers. WTI Crude is $60.41; Brent is $68.67 this morning.
Source: Reuters.com - By: Stephanie Kelly
U.S. crude inventories rose last week by 2.8 million barrels, compared with expectations for a decrease of over 1 MM bbls the U.S. Energy Information Administration said. Demand concerns and economic jitters due to the U.S.-Chinese trade war have also affected prices. WTI Crude is $58.48; Brent is $66.88 this morning.
Yo-yo price swings have become the norm in the oil market say analysts. Market focus has switched back to supportive supply considerations. WTI Crude is $59.51; Brent is $67.80 this morning.
Click here to view our Offerings.